NEWS Incheon IPO in 2011?
The South Korean government has announced that the long awaited privatisation of Incheon International Airport is imminent and that it hopes to raise up to $1.3 billion from the sale to help fi nance its fi scal 2011 budget. According to the Ministry of Strategy and Finance, work will start on the sale of a 49% stake in
Incheon International Airport Corporation (IIAC) later this year and be completed by the end of 2011. However, despite the announcement and promise that the government will retain a controlling
51% stake in the airport operator, the timing remains uncertain due to the fact that parliamentary legislation will have to be revised before the initial public offering (IPO) can go ahead. In addition, it remains unclear whether foreign investors will be allowed to participate in the IPO. The move is part of a bid by the government to speed up South Korea’s IPO market, which has slowed since May’s $4.4 billion offering by Samsung Life Insurance.
Golden days for Dubai
When Dubai International Airport began life with little more than a single 1,800-metre runway made of compacted sand and a small terminal building 50 years ago, few could possibly have imagined that half-a-century later it would be one of the biggest and fastest growing airports on the planet. It expects to mark its 50th anniversary
by handling a record 46 million passengers in 2010. “In 50 years Dubai International Airport has
evolved from a small airstrip mainly serving as a refuelling stop for a few airlines to one of the world’s top hubs for international passenger and freight traffi c,” enthuses HH Sheikh Ahmed Bin Saeed Al Maktoum, president of Dubai Civil Aviation Authority, and chairman of Dubai Airports. “We have indeed come a long way.”
French airport shake-up?
The French government is set to sell a minority stake in four regional airports and has opened a bidding process to choose a bank to oversee the sale, according to business daily newspaper, L The airports to be put up for sale are
es Ehos. c A tale of two terminals
Lyon–Saint Exupéry, Nice–Côte d’Azur, Toulouse– Blagnac and Bordeaux–Mérignac, the paper reported, adding that Macquarie Group and industrial investor Vinci were among the candidates to oversee the sale. The government has pledged to remain a
California’s John Wayne Airport is celebrating the 20th anniversary of the opening of its Thomas F Riley Terminal. More than 150 million passengers have used the facility since its 1990 opening and ever growing demand means that it will be joined by a new terminal in late 2011 that will effectively raise the airport’s capacity to 10.8mppa. The new 280,000-square-foot, six-gate terminal will cost $200 million and is being built just south of the existing terminal.
majority owner of the airports until 2013, but private investors could acquire stakes of up to 49%, claims L
c es Ehos. Cumulatively, the airport stakes are worth hundreds of millions of euros.
News in brief
Changi Airports International (CAI) is working on plans for
the $100 million upgrade and
development of Brunei International Airport. CAI is acting as a consultant and advisor to the Brunei Economic Development Board (BEDB), which is responsible for upgrading and developing of the country’s only major gateway.
McCarthy Building Companies, serving as the
general contractor for BAA, is inviting bids for the construction of a 1,340-space multi-storey car park to support Heathrow Airport’s new Terminal 2. The €106 million project forms part of a €2.6
10
billion programme of work, which is set to provide 20 million passengers with a modern facility by 2014.
HOCHTIEF AirPort is developing the new master plan for Yemelyanovo Airport, the gateway to the Russian city of Krasnoyarsk in Siberia. The masterplan will outline the gateway’s development plans until 2030. Yemelyanovo will be home to a new airline formed by the planned merger of KrasAir and Taimyr.
Mexican President, Felipe Calderón, has inaugurated Monterrey Airport’s new Terminal B. The new
AIRPORT WORLD/OCTOBER-NOVEMBER 2010 21,000sqm facility complements recently
completed airfi eld enhancements, the addition of a new 600-vehicle capacity car park and roadway improvements.
Fraport claims that freight and logistics
companies are showing “enormous interest” in its plan to expand Frankfurt Airport’s Cargo City South. According to Herbert Mai, the executive board member responsible for real estate, over 20 companies have enquired about moving into the facility, which is to be expanded by 27 hectares from 2013 onwards.
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